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Found this gold chart interesting
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John Burns
Posted 9/14/2020 12:32 (#8495157 - in reply to #8495108)
Subject: RE: Found this gold chart interesting

Pittsburg, Kansas

I've "invested" (speculated) in miners for the last ten years or so. Most with dismal results.

That said, some of the few that have not went belly up are showing some good gains now. Not nearly enough to offset the duds yet............... but there is HOPE! LOL

Many years ago I subscribed to a method of investing that aimed at 90% of my portfolio being reasonable. Then 10% of it being highly speculative. The idea being that most of the portfolio would do fine or average and the 10% most would go belly up or do terrible. But it only takes one or two to shoot out the lights to make the portfolio come alive.

I was really lucky early on in my investing career in that I had a portfolio double in a single year. Best percentage improvement in portfolio I have ever had (though just the recent move in silver in one single good day made a lot bigger dollar move in my portfolio than back then). The downside to that is it lured me into thinking I actually knew what I was doing. Mistake, but I survived it. The really interesting thing about that year was that, can't remember for sure now it has been long enough ago, but something like ten companies that went belly up. Lost everything. but the ones that did do good doubled my portfolio balance. A significant amount of money back in the pre- days.

Ahhhh memories.

I'm no smarter about investing today than I was back then. And I was a dummy (though well read) back then.

It really, really, really helps to get lucky.


Edited by John Burns 9/14/2020 12:38
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